Chevron and TotalEnergies Launch Anchor Project in Gulf of Mexico, Targeting 75,000 Barrels Daily Production.

Chevron and its partner TotalEnergies have begun production from the Anchor project in the deepwater US Gulf of Mexico, nearly four years and eight months after making the investment decision. The partners sanctioned the project in December 2019 with an estimated investment of around $5.7bn for the first stage. The Anchor semi-submersible floating production unit (FPU) is designed to process 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day. The field is estimated to hold up to 440 million barrels in recoverable resources. Chevron’s operations in the Gulf are projected to produce 300,000 net barrel of oil equivalent per day by 2026.